The Egypt Economic Development Conference (EEDC) was a three-day event that took place in the Egyptian Red Sea resort of Sharm el-Sheikh. On March 13, 2015, over 2,000 delegates from 112 different countries arrived in Egypt to attend the conference.On the first day, a proposal for a new Egyptian capital city was announced. Kuwait, Saudi Arabia and United Arab Emirates pledged $4 billion each; whilst Oman said it would provide $500 million.